FxWirePro: AUD/JPY recovers from session lows of 74.55, momentum studies bearish

• AUD/JPY is extending slump for a second consecutive session, renewed concerns over Brexit after-effects boosted Yen demand. 
   
• The pair extends downside from Tuesday, hits lows of 74.55 before paring some losses to currently trade at around 47.85 levels.
   
• Speculation about BOJ verbal intervention sees some profit booking in JPY crosses. Techs support further downside. 
   
• Stochs and RSI on the daily charts are inclined south, MACD is well below the zero mark.
   
• Immediate support and resistance are now located at 74.38 (lower Bollinger Band) and 75 levels respectively.
   
• Our previous call (http://www.econotimes.com/FxWirePro-AUD-JPY-breaks-major-support-at-77-level-good-to-sell-on-rallies-231518) has achieved all targets.
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Recommendation: Book partial profits, lower trailing stops to 75.50, target 74.35/ 74/ 73.75